How many of you are ready to have $1,000 or more less next year?

[coyotes_geek]

Good news! It looks like the democrats and republicans are going to be able to come to an agreement on letting us continue to shortchange social security via an extension of the payroll tax cut.

Oh, and then there's this...

[Winehole23]

It looks like Congress is about to assume its default position: In the face of an intractable partisan dispute over how to pay for a government initiative, don’t. If Democrats won’t cut spending, and Republicans refuse to raise anybody’s taxes, there is always the solution they both can agree upon—just borrow the money and increase the deficit.

The matter at hand is the payroll tax, of course. And after months of squabbling, it looks as if Congress is about to extend a “temporary” tax cut for another 10 months. And it will borrow $100 billion to do it. That would be OK if this was a short-term stimulus. But I don’t think it is.

http://www.csmonitor.com/Business/Ta...on-payroll-tax







RELATED: Why 'temporary' taxes never die: Payroll tax and 3 other examples

[FuzzyLumpkins]

http://www.csmonitor.com/Business/Ta...on-payroll-tax







RELATED: Why 'temporary' taxes never die: Payroll tax and 3 other examples

The next twenty years from a fiscal standpoint are going to suck.

[Borat Sagyidev]

Good news! It looks like the democrats and republicans are going to be able to come to an agreement on letting us continue to shortchange social security via an extension of the payroll tax cut.

Oh, and then there's this...

What a disgrace

The leadership of Baby boomers. "Give it to me, it's mine".

What's the deal with baby boomers not wanting to pay for anything? Given just about everything, but never want to pay for it. Not only is this older generation insufficient, they want to make later generations take the blame for it.

If there was any integrity to these shenanigans, Social security and Medicare would be gone. Of course not many want that...but they don't want to pay much or at all for it either. Same goes for consumer products, China fills that void nicely.

[LnGrrrR]

I thought WC was against long-term social programs?

[Winehole23]

not if they can be demagogued for tribal advantage, apparently

[CosmicCowboy]

What a disgrace

The leadership of Baby boomers. "Give it to me, it's mine".

What's the deal with baby boomers not wanting to pay for anything? Given just about everything, but never want to pay for it. Not only is this older generation insufficient, they want to make later generations take the blame for it.

If there was any integrity to these shenanigans, Social security and Medicare would be gone. Of course not many want that...but they don't want to pay much or at all for it either. Same goes for consumer products, China fills that void nicely.

We started down this path long before the baby boom generation was even born. Granted, they didn't fix the problem either, but your short sighted hatred of just that generation is seriously misplaced.

[Wild Cobra]

I thought WC was against long-term social programs?

You mean Social security?

I would prefer something else. However, as I have repeated said, I don't mind taking care of the elderly and handicapped as a nation. It's the able bodied worker who could do more to earn his/her own keep I have problems with. Then on top of that, we give poor people more than they need as well. Give them less, and make them have a stronger desire to support themselves.

[DarkReign]

As most people who work realize, for the 2011 year, Social security insurance was reduced from 6.2% to 4.2%. This has not been renewed for 2012. This means for every $5,000 we earn, we get $100 less than for this year.

Don't you love our system?

Your employer never cared. They still pay/paid 6.2%.

[coyotes_geek]

Your employer never cared. They still pay/paid 6.2%.

In most cases. Obama & co have been playing with payroll taxes on that side of the fence too. Not sure if any of these are still in effect or not, but over the last couple of years there were employer-portion payroll tax cuts for small businesses and new hires.

He didn't get it, but Obama's original payroll tax cut would have cut both the employee and employer sides down to 3.1%.

[Wild Cobra]

Your employer never cared. They still pay/paid 6.2%.

LOL...

I started this before the extended the cut. It was suppose to expire.